Fears heighten in banks over rise of non-performing loans

Nigerian banks are currently grappling with the biggest surge in bad loans since at least 2011 after half – year results showed weak profit growth amid a struggling economy. The nine lenders (FBN Holdings, Stanbic IBTC, Unity, FCMB, Diamond, Fidelity, Skye, Union and Wema) that have released half year 2015

Skye, Diamond, Fidelity, FirstBank lead investors in vessels acquisition

Against the backdrop that Nigerian banks often shy away from investing in shipping, especially vessel acquisition, BusinessDay probes show Skye, Diamond, Fidelity and First banks as four major commercial banks that have taken the lead to invest in that sector. The probe further reveals that Skye, Diamond, Fidelity and First

Reports: Roma Agree Dzeko Fee

According to Reports coming in from Manchester and indeed Rome, Manchester City and Roma have agreed a fee that would see Edin Dzeko leave Manchester City and Join Roma Edin Dzeko is believed to be surplus to requirements at Manchester City with the presence of Aguero and the arrival of

Rise of police brutality: 8-month pregnant lady beaten, loses baby

All my pleadings that I was eight months pregnant fell on deaf ears, as they continued to beat me. I was dragged on the floor and eventually stripped n*ked. The incident attracted a sympathetic crowd, whose pleadings were ignored because the men insisted that I would follow them to the

Bayern Munich Beat AC Milan 3-0 In Audi Cup

Bayern Munich swept aside AC Milanin the second Semifinal of the Audi Cup to reach the final with a convincing 3-0 win over the Italians. Bayern were on top of the game from the blast of the whistle but it took the Bravarians 23 minutes to finally find the net

The profit-sharing economy

Over the last 35 years, real wages in the United States failed to keep pace with productivity gains; for the typical non-farm worker, the latter grew twice as fast as the former. Instead, an increasing share of the gains went to a tiny fraction of workers at the very top

N26bn debt: DISCOs disconnect police, military barracks, others

ABEOKUTA—The Association of Nigerian Electricity Distributors, ANED, comprising of the 11 Distribution Companies, DISCOs, has threatened to commence the disconnection of power supply to military and police barracks as well as ministries, departments and agencies across the country, over accumulated N26billion. The post N26bn debt: DISCOs disconnect police, military barracks,

CBN and assessment of oil prices on reserves, FX management

Of recent, topical issues like crude oil prices, external reserves and exchange rate management have been the center point of discussion, argument, analysis, suggestion, recommendation, among stakeholders. In view of this the Central Bank of Nigeria (CBN) deemed it fit to educate and equip financial journalists in the country with

Nigeria refineries have been working but at abysmal low capacity

The announcement that Nigeria local refineries have commenced operation is a welcome development but what the refineries will offer if allowed to work at full capacity should be an issue for consideration. Several times in the past, the four local refineries have undergone turn around maintenance which has gulped money

Enyimba target 7th league title

Enyimba head coach Kadiri Ikhana has said the ambition of the side is to win a record seventh title in the ongoing Nigeria top flight. The post Enyimba target 7th league title appeared first on Vanguard News.

Major oil firm, MRS, owes FCMB N6.2bn

The Central Bank of Nigeria-initiated name and shame campaign of banks’ delinquent debtors gained further momentum on Wednesday as First City Monument Bank Limited and Ecobank Nigeria published their lists. The lists have the names of popular companies, whose directors are prominent Nigerians appearing among the high non-performing loan defaulters.

Egina receives first ‘made in Nigeria’ subsea wellhead

Egina project operated by Total has received its first locally fabricated subsea wellhead for the exploration and exploitation of the Egina field. The post Egina receives first ‘made in Nigeria’ subsea wellhead appeared first on Vanguard News.

Intensive care: We can save Nigerians!

Survival chances for many recent deaths in Nigeria would have been greatly improved had we been blessed with top notch intensive care services. The post Intensive care: We can save Nigerians!

OAUTHC set to hosts NISONMC

About 500 sports men and women are expected to fight for different laurels as the Obafemi Awolowo University Teaching Hospital Complex OAUTHC, Ile-Ife host the 5th edition of Nigeria Schools Of Nursing and Midwifery Games [NISONMG] The post OAUTHC set to hosts NISONMC appeared first on Vanguard News.